Personal Finance (Not Investing) • ThrivePass HSA, is the fee too high?

Hello All,
Just found out that my employer will start providing HSA through ThrivePass for next year.
Anyone with experience with ThrivePass?
Below is the information available:
1. Monthly HSA Admin Fee=Up to $5
2. Monthly Investment Fee= $2.5 per month
3. Account Closure Fee=$25
4. Paper statement fee=$1.5 per quarter (waived if accept electronic stmt)
5. Min Balance =$1000, only funds above $1000 can be invested
6. Monthly 0.033% (of investment balance ) fee for investments, seems like 0.396% for year-- Seems too high as compared to low cost investments like Index funds

Investment Options seem to be good i.e. Index ETFs like VTI with low exp ration (0.03%) .

Am I right to think that this is high fees?
Any way to reduce/dodge all or some of these?
Can I transfer immediately from ThrivePass to Fidelity HSA (that I might open- fees seem to be zero)- I will leave $25 or so in ThrivePass?
Note: I did not find any explicit language that says partial transfer is not allowed or any fees for the same.

Thanks

Statistics: Posted by StayOnTrack — Fri Nov 08, 2024 10:42 pm — Replies 1 — Views 91

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